Even before 2020’s chaos, companies were struggling with an ever-changing list of demands from consumers. Purchasing journeys were evolving with the rise of mobile commerce, and the sales cycle was growing longer.
When the pandemic hit, it simply accelerated a series of changes that were already happening for most brands. Unfortunately, this meant that sales teams had a lot more challenges to overcome. Every employee, from sales reps through to VPs, is now entering a new world.
The good news? Sales data could be the key to empowering the new era of selling. Our research shows that data and guided selling has the power to overcome major challenges across your sales team.
Why is Sales Data Important?
Before the rise of data-driven sales, sales professionals were reliant on static playbooks and gut instinct. While these tools still have their place, they’re also highly inefficient in a world where customers demand more personalization and relevance. Your current clients expect you to be able to deliver an experience that’s tailor-made to them. Data is the only way to do this.
The good news is that today’s companies are constantly collecting huge pools of information from every process and consumer interaction. The bad news is that a lack of organization means that many valuable data points are spread across siloed tools and sales databases, leaving no single point of truth.
In order to get reliable insights about the sales process and pipeline, sales teams must leverage complete data from all points in the buyer journey. Bringing all sales data together for analysis allows for actionable insights that can guide and empower modern teams.
How Do You Use Sales Data in Modern Business?
Sales data delivers the best outcomes when it’s accurate, comprehensive, and actionable. Almost all sales orgs already use CRM as a sales database, but many still need to learn how to analyze sales data and separate the valuable information from the clutter. For most organisations, the easiest way to do this will be through the use of AI and machine learning.
Guided Selling handles this task from start to finish, by:
1. Automatically collecting relevant data and storing it properly.
2. Analyzing collected data to find the useful insights that the sales team needs.
3. Making the relevant data that each role needs visible.
4. Sending notifications about important actions, events, and changes to data.
So, how does each member of the sales team benefit from sales data? Check our latest white paper for details.
Sales Data Solutions for Every Member of the Sales Team
Each member of the sales team can gain their own specific benefits from access to the right data. Here’s how a Guided Selling solution can empower everyone in your team:
CSOs and VPs:
Around 71% of VPs don’t feel confident that they can respond to the changing sales space quickly enough. Guided Selling helps sales orgs quickly adjust to market conditions by showing which sales activities are selling best right now. This also makes it easy to continually test and improve the sales strategy.
Another benefit of Guided Selling for VPs and CSOs is that it makes forecasts of future revenue more reliable by comparing current deals to trends from historic won and lost deals and showing which deals are likely to actually close. Reliable forecasts help CSOs steer the ship so that they invest when they can, without overspending.
Sales Managers and Directors:
Sales Managers and directors need serious visibility of the sales process. Guided Selling collects and organizes sales data to show how deals are progressing, how reps are selling, and where the sales processes are being implemented and giving good results. With data delivered in real-time, managers can see first-hand when a deal might be going south and help reps turn it around.
Guided selling takes extra strain off managers in the modern workplace by providing guidance and assistance to teams when they need an extra nudge in the right direction. And since data is collected automatically, managers spend less time asking reps about how things are going.
75% of Sales Ops feel overwhelmed by new responsibilities in their workplace. With Guided Selling, Sales Ops get additional support to take on the new challenges of organizing and reinforcing the sales strategy. Guided Selling analyzes communications data and compares it to won and lost deals to show which sales activities are performing best.
Sales data can also be the key to Sales Ops improving the onboarding process. Ramp up time can be reduced by around 42%, by allowing Sales Ops to send reminders to reps about how to execute techniques from their training—right when they need them. There’s also a positive feedback loop of data showing which processes are actually being used and which are delivering the best results.
Sales Reps and AEs
Even modern sales reps and AEs benefit from the right sales data. These professionals often need extra guidance and support to help them achieve the best outcomes. Around 77% of sales reps struggle to keep on top of their tasks, which makes it easy for outcomes to slip. Guided Selling helps reps prioritize actions by showing them what needs their attention and which activities will bring the best results.
In modern sales, getting useful data to help close deals can be like taking a drink from a firehose. Guided Selling automatically signals reps about the best next steps to take and provides insights about what will close more deals.
What Are Sales Data Signals Going to Do for You?
Harnessing data for better sales isn’t a new idea. However, as we shift into a new era of selling, many companies are realizing that they need the right data now, more than ever. Data-based sales are the key to staying competitive as selling goes digital and continuously improving the sales strategy to keep up with evolving markets.
Learning how to analyze sales data effectively and use the right information at every point in your sales team will lead to incredible results. For some of the finer details about how Guided Selling can use your sales data to empower your sales team, check out our latest white paper.